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River House Update

[ 0 ] November 19, 2016 |

Proposed River House Development

While Vornado’s “new” proposal to in-fill the open space on its River House property with another nearly 1,000 apartments has yet to be made public, Vornado recently briefed ARCA’s Executive Board on its proposal. In a nutshell, it is the same plan it proposed a year ago but this time in a form that will bypass the uncertainty of a politically bumpy GLUP amendment process and instead proceed directly to the Planning Commission for its review.

Vornado’s strategy is enabled by its request only to up-zone the property from 48 to 72 units per acre, or 966 new apartments, by dropping from its original proposal construction of any commercial retail. But hold on, not so quick. Vornado is now simultaneously offering an “alternative plan” that would include ground floor retail along Joyce Street, “just in case it might interest the Planning Commission.”

The other “change” from its 2015 submission is that it is dropping from its proposal construction of an affordable housing building across Joyce Street from the ball fields at the southern end of its property. Instead, it is proposing to dedicate that site for future construction of affordable housing.

Go figure: Is this really a “new proposal?”

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